The Allianz Partners Travel Index surveyed over 500 Singaporean adults about their travel plans and aspirations, showing over 90% of Singaporeans intend to travel this year. Despite the high travel interest, 73% of those not traveling cite costs as the main concern.

Rest, relaxation, and peace of mind take precedence, with 74% focusing on wellness resorts, followed by cultural experiences (50%) and adventure (43%). Regionally, 65% of APAC respondents favor relaxation, while 50% seek cultural experiences and 40% adventure. Most Singaporeans prefer traveling within Asia (52%) and Oceania (19%).

Budget considerations indicate that many Singaporeans are planning to spend between $1.2k to over $3k per trip, with a noteworthy trend: travelers in the 50+ age group are more likely to spend more than $3k compared to those aged 18-29.

The importance of travel insurance emerges as nearly all Singaporeans plan to purchase it (87%). This trend highlights concerns for personal safety, illness, theft, flight disruptions, and extreme weather.

Social influences play a pivotal role; 67% of Singaporeans derive inspiration for travel from family and friends. Social media platforms like YouTube, Instagram, and Facebook are significant in travel decision-making.

Vinay Surana remarked: “While cost is a concern, travel intentions remain high, especially for relaxation. We anticipate sustained travel demand across demographics.”

In summary, the need for comprehensive travel insurance is crucial, underscoring peace of mind during travel.